Calyxt Inc Receives a Buy from Jefferies


Jefferies analyst Akshay Jagdale maintained a Buy rating on Calyxt Inc (NASDAQ: CLXT) today and set a price target of $27. The company’s shares opened today at $20.54.

Jagdale noted:

“CLXT announced in an 8-K filing that CFO Bryan Corkal has resigned from the company effective immediately. While the announcement was unexpected, we believe it was a personal decision & not the result of any disagreement with the company or a sign of any operational / financial issues. In fact, we are incrementally positive on near term fundamentals following meetings with mgmt earlier this week.”

According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 6.1% and a 57.1% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and J & J Snack Foods.

Calyxt Inc has an analyst consensus of Moderate Buy, with a price target consensus of $27.

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Based on Calyxt Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $4.37 million. In comparison, last year the company had a GAAP net loss of $2.83 million.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock.

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Calyxt, Inc. is a consumer-centric, food and agriculture focused company. It engages in the development of specialty food ingredients, such as healthier oils, high fiber wheat, and food crops with desirable traits, such as herbicide tolerance. The company provides healthier food ingredients for consumers and agriculturally advantageous traits for farmers.

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